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Greggs expects stronger 2018 profit after rise in October, November sales

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Greggs expects stronger 2018 profit after rise in October, November sales

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(Reuters) - Greggs Plc <GRG.L> expects higher pre-tax profit in 2018 compared with a year earlier, the British baker said on Tuesday, as it benefits from cost cuts and stronger sales in October and November.

The company, which sells sandwiches, sausage rolls and pastries from more than 1,900 outlets, expects full-year pre-tax profit of at least 86 million pounds, higher than the 81.8 million pounds reported a year earlier.

Its total sales in the eight weeks to Nov. 24 climbed 9 percent.

Greggs had reported a pick up in underlying sales growth in October, as soft drinks and new focaccia-style pizzas proved popular during a sizzlingly hot summer.

(Reporting by Tanishaa Nadkar in Bengaluru; editing by Sai Sachin Ravikumar)

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